Transfer Stocks and Shares ISA

Welshy213

Guys,

i have an old ISA with L&G, with around £2600 in there.
I would like to transfer this into a Invetco Perpetual Distribution income fund and also top up for this year (only £150 in for this year).

Is this possible, and easy to do?

Thanks

John

dunstonh

Is this possible

yes

and easy to do?

yes. With most ISA managers it will be no more than two sides of A4 containing your personal details and an authority to transfer the ISA.

Ask your new ISA manager for a transfer application.

Welshy213

Thanks Donstonh,

1 other question, If I transfer in, will I still be able to put in an additional £3450 assumin I have only put in £150 for this year?
Additionally, I have looked at the ISA transfer form and Nowhere does it allow you to enter what fund you want to wrap inside it.
Is this done at a later date?

dunstonh

When you transfer the ISA that you have paid into this year, the new ISA manager becames the one iSA manager you can use and any outstanding allowance can be put with them.

Additionally, I have looked at the ISA transfer form and Nowhere does it allow you to enter what fund you want to wrap inside it.
Is this done at a later date?

They are two ways to transfer. One is re-registration which you use when you dont want to change fund. This option wouldnt ask you for fund choice. The other is transfer where the fund is sold by the existing ISA manager and a cheque sent to the new one to invest in the new funds of your choice.

With transfer, most providers will ask you the funds you want as part of your application. Are you perhaps looking at the re-registration form?

Welshy213

This is possible,

I went to the IP dist fund, went to Fund now, then selected the option to Transfer ISA
Filled in the Personal details, then got the screen where I selected to open the ISA Transfer form.
Maybe I am going about this wrong?

I think I may figured this out, I need to do is as a CASH transfer, this then allows the option to select the fund.
"What is the difference between a stock and a cash transfer?
If you want to keep your holdings and transfer them to the Vantage Service
as they are, tick the stock transfer box. If you want to change the
investments you hold, transfer as cash"